The remainder of the CNN positions, about 170, will be cut through layoffs.

Along with CNN, Turner owns cable channels like TNT, TBS, and the Cartoon Network. The headcount reductions there will also come from both buyouts and layoffs.

The eliminations "are at all levels of the company's news, entertainment, kids, young adult and sports networks and businesses, as well as corporate functions, in 18 Turner locations around the world," Turner CEO John Martin said in a memorandum to staffers.

"Those whose jobs are impacted will receive every consideration and the respect they are due, starting with severance pay for transition," Martin wrote. "Whatever their job title, business unit or location, they have contributed to the success story that is Turner Broadcasting, and they leave with our thanks and sincere best wishes."

The layoffs will take place in the next two weeks.

Like other major news and entertainment companies, Turner is reshaping its workforce, simultaneously cutting staff in some areas while adding in other areas, mainly ones with digital bents.

A Turner news release said the reductions are part of a reorganization that also includes "approximately 150 new positions in areas of investment and growth."

The cuts announced on Monday, while significant, did not match the severity of some of the rumors in recent weeks. There had been particular concern about Turner's operations in Atlanta, where nearly half of its employees — 6,500 of 14,000 — are located.

About two-thirds of the employee reductions, 975, will be in Atlanta, according to another person with direct knowledge of the plan.

In his memo, Martin sought to reassure staffers that Atlanta "remains the company's largest employee base."

"Beyond people and infrastructure, our history and heritage are there," he wrote. "So is a big part of our future."

Separately on Monday, Turner renewed its multi-billion-dollar investment in the NBA games it televises on TNT. Turner and another NBA partner, ESPN, together agreed to a deal that is said to be worth $24 billion over nine years.